On Monday, the Bitcoin price declined to $57,100, continuing its drop from a one-month high of $65,000 reached on August 25th. The upcoming US Federal Reserve decision to cut interest rates is expected to have significant implications for Bitcoin. Bitfinex forecasts that this rate cut could lead to a further 20% decrease in Bitcoin's price.
Market analysts are closely watching the Federal Reserve's moves, as Bitcoin and other cryptocurrencies often react to macroeconomic changes. Investors are concerned about the potential impact on the cryptocurrency market.
